Pro-Forma Financial Results Presentation (as of and for the year then ended 31 December 2019)

June 2020 Disclaimer

This presentation (the “Presentation”) was made available by PLC (“ASG”) together with each of its subsidiaries, (the “Group”).

This Presentation is being made available to a number of institutions in order to provide background information to assist those Recipients in obtaining a general understanding of the business of the Company and the Group. It is not intended that this Presentation invites, offers, or induces, a recipient to buy, sell, subscribe for or underwrite any financial instruments, any security or other investments, in any jurisdiction, nor should it or any part of it of the fact of its distribution form the basis of, or be relied upon in connection with, any contract or investment decision in relation thereto.

The information in the Presentation is summary in nature, is not comprehensive and has not been independently verified, and it should not be relied upon. The information in this Presentation addresses certain specific circumstances as at the date they were prepared. No representation or warranty (whether express or implied) is given by ASG or the Group, nor any of their respective directors, officers, employees, agents, representatives or professional advisers as to the correctness, completeness, adequacy, accuracy or reasonableness of this Presentation or the information contained herein, in particular in respect of forward-looking statements, including the achievement or reasonableness of management estimates, opinions, targets or other future projections. Any such forward-looking statements or future projections are subject to various risks and significant uncertainties and contingencies, many of which are difficult to predict, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements and future projections. Actual results may depend on future events which are not in ASG’s control and may be materially affected by unforeseen economic or other circumstances. Nothing in this Presentation shall form the basis of any contract, representation, warranty or undertaking, express or implied.

The Group and their affiliates’ in each case direct and indirect shareholders, holding companies, representatives, agents and, advisors and subsidiaries expressly disclaim (to the extent permitted by law) and exclude any and all responsibility and/or liability which may be based on this Presentation, and the Recipient is required to make such independent investigations and verification as it deems necessary. Neither ASG, the Group nor any of their respective directors, officers, employees, agents, representatives or professional advisers shall be liable for any direct, indirect or consequential loss or damage suffered by any person as result of relying on any statement contained in (or omitted from) this Presentation. The Group and their affiliates’ in each case direct and indirect shareholders, holding companies, representatives, agents and, advisors and subsidiaries shall be under no obligation to update this Presentation or the information contained herein, provide the recipient with access to any additional information, correct any inaccuracies in it which may become apparent, modify or update this Presentation, but reserve the right, at any time in their absolute discretion and in any respect, to amend or terminate the proposal(s) described herein without giving reasons.

No Recipient shall approach the directors, officers or employees of any member of the Group in connection with this Presentation unless otherwise agreed in writing between the Recipient and ASG.

Distribution of this Presentation in or from certain jurisdictions may be restricted or prohibited by law. Recipients are required to inform themselves of, and comply with, all such restrictions or prohibitions and the Group accept no liability to any person in relation to the distribution of this Presentation in any jurisdiction.

This notice and any dispute arising from it or in connection with the Presentation, whether contractual or non-contractual, is governed by English law and the Recipients, by accepting the Presentation, agree that the courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with the Presentation.

2 Avia Solutions Group – Company Snapshot Leading Regional Aviation Services Provider with Multi-Service Global Operating Footprint

AVIA SOLUTIONS GROUP OVERVIEW BB One-Stop Aviation by S&P and Fitch • Avia Solutions Group is a global multi-service aviation holding that provides integrated aviation- Services Shop related services and solutions worldwide €1,103mn Revenue • Via organic growth and a number of strategic M&A transactions, ASG has developed into the one 2019FY Consolidated Pro Forma of the largest aerospace business groups and independent aviation services providers in Central >100 and Eastern Europe €215mn EBITDA 2019FY Consolidated Pro Forma COMPANIES • Truly global presence with more than 3,500 employees spread across offices in 30 countries around the world, and growing exposure to Asian and US markets 19% EBITDA Margin % • Well-diversified and global customer base with revenue generated in more than 150 countries 2019FY Consolidated Pro Forma ~6,500 1 across five continents, out of which more than 70% attributed to European developed markets € 213 Net Debt EMPLOYEES Consolidated BS as of 31 Dec 2019

MULTI-SERVICE PROVIDER WITH INTEGRATED BUSINESS MODEL GROUP 2019 FINANCIAL RESULTS BREAKDOWN 48 COUNTRIES OF Consolidated 2019FY Pro Forma Consolidated 2019FY Pro Forma AVIATION SUPPORT SERVICES PRESENCE Revenue by segment EBITDA by segment MRO, Ground Handling, Fuelling & Logistics, Crew Training & Stuffing -32 151 >70 149 REGISTERED 398 TRADEMARKS €1,103mn 33 Total PF €215mn AVIATION LOGISTICS & AIRCRAFT TRADING & Revenue Total PF DISTRIBUTION PORTFOLIO 33 EBITDA >3,000 586 Aircraft, Crew, Maintenance MANAGEMENT DIRECT CLIENT and Insurance Solutions, Aircraft leasing, trading and CONTACTS Passenger and Cargo Charter, management solutions Private Jet Services Aircraft Trading and Portfolio Management Aviation Logistics and Distribution Services (per month) Aviation Support Services Other 3 Company Overview

Company overview Financial Information Appendix to Financial Information

4 I Unique Combination of Services & Multi-Brand Portfolio One-stop Shop Approach allows ASG to generate plenty of synergies and boost margins

AIRCRAFT TRADING & PORTFOLIO MANAGEMENT AVIATION SUPPORT SERVICES

Aircraft Trading Aircraft Leasing Aircraft Maintenance (MRO) & Spare Parts Aircraft Management Consulting and remarketing Crew training & FL Technics, JET MS, Storm Aviation recruitment Fleet and transaction management Aircraft trade & Ground Handling & Fuelling • One of the leading aircraft lessors in CEE engaged in leasing lease Baltic Ground Services, Aviator of mainline narrow body and regional jets (Boeing 737 and Spare parts & Aviation Training & Recruitment A320, Bombardier CRJs) engines • AviaAM has 11 commercial passenger aircraft in fleet1 BAA Training, AeroTime Hub • Engaged in JV with the Henan Civil Aviation Development and Investment (AviaAM China JV)

ACMI • MRO & Spare Parts: Base maintenance – 3 hangars in Europe and 2 hangars in Asia; Line maintenance – 50 stations in Europe, Africa, the MRO CIS and Asia

• Ground Handling and fueling stations at 29 AVIATION LOGISTICS & DISTRIBUTION airports across CEE , Balcans & Scandinavia Passenger Wet Lease Damp Lease Private Jet charter Ground service, • One of the three largest independent aviation Group Charters Cargo Charters Charters Fueling training centers in Europe with facilities across Europe, Americas, Africa and Asia On Board Courier Humanitarian Airlifts Cargo charter • Chapman Freeborn is world's leading aircraft charter and aviation support companies, based on group turnover and global footprint and has 45 year expertise in air charter solutions for passenger and cargo. • SmartLynx had a fleet of 22 Airbus A320 and A321 family aircraft, whereas had a fleet of 13 aircraft 1 1. Fleet number is counted as of 31 December 2019 5 I Leading Aviation Services Provider Global operations with leading positions across business segments

Companies Countries of Countries contributed Global Reach 160 Employees >100 in the Group 48 Presence 150 to Group’s Revenue >1k~3.5k

REGIONAL LEADER IN EVERY SEGMENT OF OPERATIONS GEOGRAPHICAL REVENUE BREAKDOWN 2019FY1

Wide geographical presence across the globe with a One of the leading ACMI provider in Europe focus on mature markets of Europe and increasing presence across developing countries in Asia, the Middle East and Africa Amongst TOP3 largest independent aviation training centres in RoW Europe HQ CIS 5% One of the leading base and line 6% maintenance provider in Europe Asia 70.7% comes from 12% European Developed Markets

One of the leading aircraft lessor Backoffice in Central & Eastern Europe Kaunas 76% Europe One of the longest standing global cargo charter brands in the world

HQ Heavy Representative Line Maintenance BAA Training HQ Warehouses Maintenance Offices Stations Simulators Hangars

Source: company information. Note: herein no facilities located in Americas are presented 6 1) Based on consolidated pro forma combined revenues for 12 months ended on 31 December 2019 I Group History – Long-Established Presence in Aviation Services Decades-lasting Aviation Services operations with extensive market knowledge and industry expertise

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

In October 2019, the Group completed its Reorganization through the acquisitions of: 100.00 % Chapman Freeborn (“CFG”) 98.84% of Avia AM leasing (“AviaAM”) SIA Smart Aviation Holdings, which holds 100% of Smartlynx Airlines and 51% of EyjafjollSAS that in turn holds 100% of Avion Express. Other 49% of Eyjafjoll SAS was also purchased, whereby completing the 100% acquisition of Avion Express Avia Solutions Group – consolidated in 2010 Aviation Support Services Reorganization and Entering crew BGS started Expansion into MRO & Training privatization of the training 3rd party in- Singapore, expansion into Lithuanian aviation businessby plane fueling Indonesia and China establishing Vietnam via sector FL Technics, a BGS entered 1 1 provider of MRO BAA Training Training and MRO Ukrainian and services, was Chinese rail founded business

Aviation Asset Management Aircraft Trading & Portfolio Management established AAM restructured, Entered the Warsaw Stock Established Delisted from establishing AviaAM business of Exchange AviaAM China Warsaw Stock aircraft trading listing JV Exchange

Acquired the Completed its minority share of Magma Aviation since 1973 Magma Aviation acquisition Aviation Logistics & Distribution LatcharterAirlines was rebranded to SMX was subject Avion SMX acquired AvionExpress SmartlynxAirlines to MBO and Express by Tripod sold its 65% Nordic Solutions Air Services was became established Investment stake in independent Management since 1992 rebranded to Avion Express and was Dominican Dominican 1 acquired by EyjafjollSAS Wings Wings

1Aviator, Blue Bird Nordic and FLM acquired in 2020 7 I Simplified Corporate Structure Chart

Issuing Vehicle AVIA SOLUTIONS GROUP PLC

ASG Finance Designated Activity Company (Ireland) Aircraft Trading and Aviation Logistics & Aviation Support Portfolio Distribution Services Management

Smart Aviation Chapman Freeborn Ground Handling, AviaAM Leasing UAB MRO Other Holdings Holdings Limited Fueling and Logistics 98,84%

Jet Maintenance BAA Training UAB 23 subsidiaries Smartlynx Airlines 32 subsidiaries (UK, Solutions, Helisota Baltic Ground plus 3 subsidiaries (, Ireland, EYJAFJOLL (France) USA, Hong Kong, FL Technics UAB SIA & Locatory.com Services UAB (Lithuania, Vietnam, Cyprus, Bermuda, Australia, (95%) China) China) Singapore, China, EU, UAE, South Africa, India) 12 subsidiaries 8 subsidiaries 9 subsidiaries (Thailand, Hotel Business (Estonia, Latvia, 3 Joint Venture – Avion Express (2 Estonia, 3 Malta, Indonesia (67%), Hong (DG21 UAB, Ukraine, Czech, AviaAM Financial UAB 1 Latvia, 1 Russia, 1 Kong,, Austria, Georgia, Residence Kapteini Russia, Germany, Leasing China Cabo Verde) Russia, Ukraine, China, SIA) Lithuania, Italy Croatia, Lithuania) (51%) (from 19/02/2020)) KlasJet, Blue Bird Aviator Airport Avion Express Nordic (from Aliance Malta Ltd 24/01/2020) (from 14/02/2020) Storm Aviation Ltd (Denmark, Finland, Norway, Sweden)

Bond Guarantors 3 subsidiaries (Cyprus, Germany, Nigeria, Bangladesh) 8 I Experienced Management with Strong Track Record Strong sectoral and management experience Shareholders

As of 01 May 2020 Gediminas Ziemelis (76.01%)1 Group executives (4.19%) Other shareholders (19.80%)

Board of directors

Zilvinas Lapinskas Jonas Janukenas Gediminas Ziemelis Linas Dovydenas Vygaudas Usackas Director of Avia Solutions Group Chief Executive Officer of ASG Founder and Chairman of the Board of Chief Commercial Officer of the Group Head of Strategy of the Group and CEO of FL Technics Directors Joined ASG Group in 2017 as General Served as CCO of Avia Solutions Group AB Has over 20 years of experience in senior Appointed CEO of FL Technics in December Manager and Advisor; started managerial Elected as Chairman of Avia Solutions since 2007 management 2013 career in 1998 Group AB in 2009 Management

Jonas Janukenas Aurimas Sanikovas Ricardas Laukaitis Vladas Bagavicius Russi Batliwala Tadas Goberis Zygimantas Surintas CEO of Avia Solutions CFO of Avia Solutions Head of Treasury Head of Investor Relations CEO of Chapman Freeborn CEO of AviaAM CEO of SmartLynx Group since 2017 Group since 2010 Department Company managers Leasing since 2013 Airlines since 2016

Risk Management Financial Control Compliance Department Legal Department Data Protection Officer Department 1) Gediminas Ziemelis is the beneficial owner of Vertas Management AB, Vertas Aircraft Lesaing Limited, Vertas Cyprus Ltd and FZE Procyone, which altogether constitute 76.01%. 9 Financial Information

Company overview Financial Information Appendix to Financial Information

10 II Robust Financial Profile Track record of high revenue growth in all business segments

Change in Reporting Segments 2019FY. SEGMENTS FOR 2019FY (NEW) Consolidated Group Pro-Forma Consolidated Group Pro-Forma The Group has changed its segments for the Revenue EBITDA financial reporting purpose since the 1st January - FL Technics (MRO) - Storm Aviation (MRO) EUR, mn 2019. Difference of “old” segments from the - Baltic Ground Services new one is presented below: (GH & Fueling)

Services - AVIATOR €1,103mn

- BAA Training Aviation Aviation Support Aviation Support €954mn Services 398 Avia Solutions Group Plc (Holding) ASG Finance DAC (Financial Service) €215mn Baltic Ground Services (GH & Fueling) 382 FL Technics (MRO), Storm Aviation (MRO) - Avia AM leasing BAA Training and its subsidiaries 151 €169mn 33

AVIATOR

& Portfolio Portfolio & Management KlasJet (Private Jet) Aircraft Trading 135 28 33 36 Trading & Leasing - Chapman Freeborn 586 (Cargo & Charter) Avia AM leasing and its subsidiaries 472 149 - Smartlynx (ACMI) 109 - Avion Express (ACMI) - KlasJet (Private Jet)

ACMI Distribution -35 -32 -4 & & Aviation Aviation logistics 2018 2019 2018 2019 Smartlynx Segments before 2019FY before Segments Aviation Support Services Avion Express Note: To ensure proper comparison Aircraft Trading and Portfolio Management with the historical financial information Cargo & Charter Aviation Logistics and Distribution Services (e.g. 2016FY-2018FY), the analysis - Avia Solutions Group Plc Brokers further below will be presented based - ASG Finance DAC Combination adj. on the “old” segments.

Chapman Freeborn Group Holding &

Financial Financial Services 11 II Robust Financial Profile Track record of high revenue growth in all business segments

EUR, mn Consolidated Group Pro-Forma Revenue Strong track-record in revenue 420 435 growth on the back of continuous 337 EUR, mn Support Support 279 business expansion. €1,103mn

Services Strong growth in Services segment ASG ASG Group

driven by increase in volume and Aviation 2016 2017 2018 2019 €954mn number of new contracts signed in base maintenance and increase in growth in ground handling and 435 fueling. 135 151 Growth in ACMI business driven 128 125 by continuously increasing fleet

420 and utilization rate per aircraft on

Avia Avia AM Portfolio Portfolio

Management the back of growing demand in Aircraft Aircraft trading & 2016 2017 2018 2019 ACMI services and one-off spikes 151 in additional capacity demand (for eg. grounding of the 737MAX) 135 Increase in AviaAM’s revenue from 2018 to 2019 was primarily 373 373 driven by an increase in revenue ACMI 294 from sales of aircraft and aircraft 213 163 294 leases CFG’s growth in recent years was driven by increase in the fleet 2016 2017 2018 2019 managed and revenue generated 177 by cargo sub-segment of the

Distribution 142 business (Magma Aviation), as Aviation Aviation Logistics & -37 -33 well as additional contracts signed 177 2018 2019 in CFG’s passenger services 141 142 103 ASG AviaAM ACMI Chapman Freeborn I/C

Chapman Chapman Freeborn 2016 2017 2018 2019 12 Consolidated Breakdown for theGroupfor Breakdown Consolidated Revenue Concentration Concentration per Revenue Customer Aviation Aircraft trading Aviation Support II Logistics & & Portfolio Distribution Management Services Balanced Customer Portfolio built on Long Chapman Group ACMI Avia AM ASG Group Total Robust Financial Profile 6 8% 41% 20% 57% % 31% 45% – FY2019 Customer #1 69% - lasting lasting Relationships with Industry Leaders 73% 55% 84% Top 10 Top 27% 96% 16% Other 4% Select Customers Select pursuit of its growth growth of its pursuit The Group'sbelieves management related airlinesAsian and European some of themajor with relationshipsstanding Thehas Group service a well a providers - is one of one of ismost its diversified and global customer base customer globaland diversified that important competitive strengthcompetitiveimportant maintaining these relationships alongside the alongside relationshipsthese Myanmar,Ebola the outbreakin2014 etc. earthquakesinPakistanand Haiti, floods in to response the Supporting , and, has developed , the AsianTsunami, the and aviation long 13 - - II Robust Financial Profile Consolidation of Stable Growth EBITDA and EBITDA Margins in Every Segment of Operations

10% EBITDA EBITDA Margin % 7% 6% EUR, mn 5% 5% Consolidated Group Pro-Forma EBITDA 5% Balanced Earnings Mix 28 26

Support Support EUR, mn among the business 14 17

segments allows ASG to Services ASG ASG Group 0% leverage on its core Aviation 2016 2017 2018 2019 28,00% 19% strengths to drive 26,00% 26,00% profitability and adjust 26,00% 22,00% 24,00% €215mn215 short-terms priorities as 33 24,00% 18% per the market needs and 22,00% capacity requirements 31 32 35

Strong increase in Avia Avia AM Portfolio Portfolio 20,00% €169mn169 Management 2016 2017 2018 2019 profitability in ACMI sector, Aircraft Aircraft trading & driven by Smartlynx on the 40% back of supportive market 34% 29% 28% conditions and increased 129 30% utilization 20% 20% Focus on the highest 82 margin segments of the 62 10% supply chain of the aviation 33

0% industry, in particular by ACMI 2016 2017 2018 2019 expanding its aircraft leasing and trading

Distribution activities, trade in spare

Aviation Aviation Logistics & 20% parts, engines, logistics and 16% MRO services. 12% 2018 2019 10% 9% 7% 7 12 23 22 Consolidated Pro EBITDA Margin % 0%

Chapman Chapman Freeborn Forma EBITDA 2016 2017 2018 2019 14 II Robust Financial Profile EBIT Breakdown and Bridge to Consolidated EBITDA

ASG Group AviaAM ACMI Chapman Freeborn Consolidation adj.

€112mn 5 36

€215mn 2019 FY

53

Increase due to Elimination of 15 IFRS16 impact to Increase due to 3 result from JV in ACMI mainly and IFRS16 impact AviaAM bonds issued for ACMI mainly

€93mn

17 €169mn 2018 FY 33

25 20 (2) 15 Based on unaudited pro forma combined income statement for the year ended 31 December 2018 and for the 12 months ended 31 December 2019 II Robust Financial Profile Liabilities predominantly consist of IFRS16 lease and bond debt

Debt Breakdown by Business Segment and Debt Type Consolidated Debt Position of the Group As of 31 Dec 2019 As of 31 Dec 2019 EUR, mn EUR, mn

Current & Non-Current Lease liabilities (IFRS 16 Liabilities) 14 -0 (89) €514mn 176

Current & Non- 1 28 Current Lease 237 liabilities 52 (301) (IFRS 16 Liabilities) Current & Non-Current 71 Other Borrowings Current & Non-Current 16 Other Borrowings

Bond payable 261 261 €213mn213 Bond payable

Chapman ASGASG Group Group AviaAM ACMIACMI Chapman Freeborn Consolidation adj. Gross Debt Cash & Short Term Deposits Net Debt AviaAM Freeborn

16 Based on unaudited pro forma consolidated balance sheet as at 31 December 2019 II Robust Financial Profile Diversified business model with growing asset base and resources

Group’s Asset Growth Group’s Aircraft Fleet in Operation1 47 54 Avg. Life of Balance 47 ASG Group 2016-2019 Reorganization & Consolidation3 41 43 Fleet 2019 41 35 17yr 29 25 11yr 21 17 14 14 23yr 11 3 4 4 5 0 0 0 3 2016 2017 2018 2019

Total Fleet ACMI Chapman Freeborn Intercompany

Group’s Headcount Evolution2 Chapman Freeborn Chapman ACMI 3,467 2,994 253 2,679 2,491 397 244 33 245 340 249 22 AviaAM 321 269 19 19 202 163 2 784 155 2 388 2 094 0 1 954

2016 2017 2018 2019 2019 Assets of Acquired Group*3

1) Excludes aircraft in AviaAM China JV’s Fleet 2016 2017 2018 2019 2) Figures include contractors who perform office duties, and excludes cabin crew and pilots 3) Investment cost of new acquisitions are eliminated from the ASG Group total assets for presentation purposes. Acquired assets are presented at their book values. 17 ASG AviaAM ACMI Chapman Freeborn II Robust Financial Profile Service Orientation of the Group with Modest Capital Expenditure Requirements

Efficient usage of capital with high velocity of investments and Minimal historical CAPEX needs for ASG and Aviation Logistic Businesses consistent increase in gross margins in Aircraft Trading & Portfolio Management

EUR, mn 153 32 30 131 119 106 100 98 94 99 88

63

7 7 7 6 19 3 1 7 0 0 1 1

2016 2017 2018 2019 2016 2017 2018 2019

ASG ACMI Chapman Freeborn CAPEX (aircraft only) Cost of aircaft sold Sale of aircraft

Aviation Support Services and Aviation Logistics & Distribution businesses have historically Aircraft trading and Portfolio Management business is the most capital-intensive out of three been capital-lite given the service nature and have used resources for maintenance, ASG’s business segments that has resulted in greater investments replacements and upgrades Although the CAPEX of AviaAM remains changeable across periods due to the frequently However, in 2018/2019, in line with the organic growth strategy ASG invested into rail occurring lag between the acquisition and sale of an aircraft, a sale of aircraft and its cost carriages, flight simulators, aircraft, ground handling, fueling equipment, trucks and hotel differential demonstrates a durable and effective business model business As a result of growing capabilities, the AviaAM has been increasing its margin from the sale of As far as capital investments of Aviation Logistics & Distribution are concerned, they aircraft up to 34mEUR for 2019FY (32mEur in 2018FY) predominantly are maintenance-related with occasional one-off significant purchases of equipment and aircraft 18 Appendix

Company overview Financial Information Appendix to Financial Information

19 Consolidated Balance Sheet Prepared on legacy segment basis as of 31 December 2019 | mEUR

Chapman Combination Intercompany ASG Group AviaAM ACMI Balance Freeborn Adjustments eliminations Net Debt 213 Goodwill 4 - - 3 60 - 67 Equity Ratio % 31% Intangible assets 5 - - 1 1 - 8 Investment property 1 26 - - ( 15) - 12 Net debt to EBITDA 1,0 Property, plant and equipment and investment property 131 17 187 15 20 ( 6) 363 Investment to subsidiaries 322 - 18 - ( 340) - - Financial assets, investment in associates and joint ventures - 48 - - ( 1) - 47 Non-current loans granted and lease receivables 7 58 - - - ( 41) 24 Non-current trade and other receivables 2 1 13 1 - - 16 Non-current derivative financial instruments 4 - - - - - 4 Deferred tax assets 8 - 1 1 - - 10 Non-current bank deposits 1 - - - - - 1 Non-current assets 485 150 220 19 ( 275) ( 48) 551 Inventories 29 62 5 - - ( 1) 96 Loans granted and lease receivables 11 13 19 - - ( 36) 7 Trade and other receivables, contract assets and prepaid income tax 71 15 30 41 - ( 13) 144 Short-term bank deposit 84 - - - - - 84 Cash and cash equivalents 135 34 35 13 - - 217 Current assets 331 124 90 54 - ( 50) 549 TOTAL ASSETS 816 274 309 73 ( 275) ( 98) 1 100 Share capital 23 - - - - - 23 Other equity 313 - - - 6 - 318 Equity attributable to equity holders of the parent 336 - - - 6 - 341 Non-controlling interests - - - 3 2 - 5 Equity of acquired entities - 177 83 24 ( 285) - - TOTAL EQUITY 336 177 83 27 ( 277) - 346 Non-current lease liabilities 42 - 117 7 - ( 4) 161 Non-current borrowings 308 11 - - ( 6) ( 43) 270 Derivative financial instruments 5 - - - - - 5 Non-current trade and other payables and security deposits received 2 1 4 - - - 6 Deferred income tax liabilities 2 2 - - 10 - 14 Non-current liabilities 358 14 121 7 4 ( 47) 457 Lease liabilities 11 1 59 6 - ( 1) 76 Borrowings 24 17 - - - ( 35) 7 Trade and other payables, contract liabilities and current income tax liabilities 88 65 46 32 ( 2) ( 15) 214 Current liabilities 122 83 105 39 ( 2) ( 50) 297 TOTAL LIABILITIES 480 96 226 46 2 ( 98) 754 TOTAL EQUITY & LIABILITIES 816 274 309 73 ( 275) ( 98) 1 100 20 Consolidated Pro Forma Income Statement Prepared on legacy segment basis for the year 2019 | mEUR

Pro Forma Chapman Combination Intercompany ASG Group AviaAM ACMI Income Freeborn Adjustments eliminations statement Revenue 435 151 373 177 - ( 33) 1 103 Other income 1 3 1 - - ( 2) 2 Cost of services and goods purchased ( 292) ( 112) ( 215) ( 125) 3 34 ( 707) Depreciation and amortization ( 14) ( 2) ( 59) ( 6) ( 2) - ( 83) Employee related expenses ( 86) ( 1) ( 15) ( 22) ( 4) - ( 129) Other operating expenses ( 27) ( 3) ( 22) ( 7) - 2 ( 56) Impairment-related expenses ( 5) ( 5) ( 2) ( 1) 5 1 ( 8) Other gain/(loss) - net - 1 9 - ( 1) ( 4) 6 Operating profit (loss) 12 31 69 16 1 ( 2) 127 Finance costs – net ( 6) ( 1) ( 17) - ( 1) 1 ( 24) Share of profit (losses) of equity-accounted investees, net of tax ( 1) 7 - - - - 5 Profit (loss) before income tax 5 36 53 15 - ( 1) 108 Income tax ( 2) ( 4) ( 2) ( 5) - - ( 14) Profit (loss) for the year 2 32 50 10 - ( 1) 94

EBITDA 26 33 129 22 7 ( 2) 215 EBITDA Margin % 6% 22% 35% 12% 19%

21 THANK YOU